In memory of Frank:
Franklin Half Instructional Series #7: 1950D Half Dollar.
This is the seventh installment of my instructional series on Franklin Halves. As I have time, I will add an excerpt on one of the coins of the series, and hopefully those of you who are interested in Franklins will add your own observations and pictures. By the end of the series we should wind up with a pretty comprehensive study of the Franklin series, along with some nice pictures as well. And who knows, maybe some other folks will do the same for other series!
Sources for this series generally include “An Analysis of Gem Franklins” by Jack Ehrmantraut and “The Complete Guide for Franklin Halves” by Rick Tomaska – two books which I feel every serious Franklin collector should read
1950D
One of the semi-key dates in the MS65FBL series, the 1950D half is similar to it’s more well known sister coin of 1949. Luster for this coin tends to be rather subdued, with coins generally coming in the creamy-frosty variety as opposed to the booming proof like luster of its 1950P counterpart. With a mintage of 8.031,600, all of these coins were produced for circulation due to the fact that the mint did not make mint sets for this year. You will recall that this is the year the mint began producing proof sets again and someone at the mint figured that collectors would be satisfied to get those as opposed to the mint sets. Add to this the fact that, like 1949D’s, this issue is heavily bag marked and not as well struck, and the 50D becomes an illusive specimen in gem condition. Another interesting fact is that because all of the coins were released into circulation, finding a nicely toned example like the ones you see coming from mint sets is extremely difficult. While an estimated 20% of gem examples are going to be white or near white, most of the rest will generally sport a somewhat drab gold/grey color. Finding a brightly toned example of this date is indeed quite a find.
Current population numbers from PCGS read as follows:
MS63 and lower -325 in non FBL and 152 in FBL
MS64 - 492 in non FBL and 879 in FBL
MS65 - 70 in non FBL and 290 in FBL
MS66 - 2 in non FBL and 22 in FBL
MS67 – None to date
While the numbers show a sizeable number of coins graded, I find that this coin is not one of the ones that you often see out for sale very often. For some reason this particular date often has to be searched out rather than found in the cases of Franklin dealers at shows. The fact that 50D’s can range from well struck to poorly struck, reflects on the pop reports quite readily. If you’re in the market for a coin below MS65FBL, look for one with a minimal number of hits, particularly in the prime focal areas of the bust on the obverse and the bell on the reverse. With a little perseverance you should be able to find an acceptable example of this date at a reasonable price. MS64FBL examples can usually be found in the $60 to $80 range, depending on eye appeal. Lower graded specimens can be found well below this price. MS65FBL’s have dropped in price somewhat in the past year, but not as dramatically as other dates. A solid MS65FBL with pleasing eye appeal can probably be had for something in the neighborhood of $500-700. Blast white or awesomely toned examples would fetch a significant premium about these levels. As for MS66FBL coins, their population have almost doubled in the past year, however, my sense is that most of these have been the result of crack outs. At one point these examples were fetching somewhere in the neighborhood of $8,000. However, today their price range is more in the $4,500 range. One thing that you’ll want to be sure to do if you’re hunting for a premium coin such as this is to look out for “roll rub”. Coins from this year are notorious for having rub marks on their high points due to the fact that they all came from bank rolls. Tilt the coin away from you under a strong halogen light, and you should be able to see if you have a pristine coin, or a possible slider. For more information on this date you can look the coin up in the Coinfacts page, which also sites significant sales appearances over the past few years. This information can be found HERE. I will continue to post the COINFACTS site for reference, but I am in no way promoting their products or services.
One observation which I have made over the past year is that in the recent past, the population of Franklin halves has been increasingly dramatically, although, and I have to emphasize, it is not as high as you would expect for a coin with moderate to high mintages. In my opinion, much of the increase (I’d say 50%) has been due to the crack-out game. For this reason, I suspect that the population of Franklins in high grades (MS65FBL and above) is actually somewhat lower than the numbers would suggest.
Even though the numbers have doubled in certain categories, I honestly do not think that the number of new finds is as significant. I say this for two reasons. First, original mint sets from the late 40’s and 50’s which have not been searched, are very rare in my opinion. Yes, some may still be hidden away in someone’s sock drawer, but their numbers are decreasing dramatically. Over the past year I have been scouring local dealers and shows looking for undisturbed original mint sets and rolls from these years, and I get the same story from everyone I talk with, they’re not to be had. Second, when you do find original rolls and mint sets, more often than not they contain badly toned, or bag marked coins which do not satisfy the criteria. I will venture to say that in the next year the population of Franklins will begin to stabilize, and the market will return to a more predictable and stable state.
The 1950D is one of my favorite coins because it can be found in very beautiful, pristine condition. It is a hard find, but they’re out there. Look for a coin that is well struck and with nice eye appeal. You will see that if persistent, this coin can be one of the show pieces of your collection.
Happy collecting!
